Vancity Investment Management Ltd Raises Holdings in Lamar Advertising Company $LAMR

Key Points

• Vancity Investment Management increased its stake in Lamar Advertising by 32.8% in the fourth quarter, bringing its holdings to 56,589 shares worth about $7.16 million.
• Lamar Advertising reported better-than-expected quarterly results, with EPS of $1.00 versus the $0.82 estimate and revenue of $528 million, topping expectations.
• The company also объявed a quarterly dividend of $1.60 per share, equal to an annualized yield of 4.3%, while analysts currently hold a consensus rating of Moderate Buy with a $148 price target.

Vancity Investment Management Ltd increased its stake in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 32.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,589 shares of the real estate investment trust's stock after acquiring an additional 13,980 shares during the quarter. Vancity Investment Management Ltd owned approximately 0.06% of Lamar Advertising worth $7,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Van Diest Capital LLC bought a new stake in Lamar Advertising in the fourth quarter valued at approximately $239,000. Compound Planning Inc. purchased a new stake in shares of Lamar Advertising during the fourth quarter valued at approximately $777,000. Invesco Ltd. grew its holdings in shares of Lamar Advertising by 7.7% in the fourth quarter. Invesco Ltd. now owns 1,068,531 shares of the real estate investment trust's stock worth $135,255,000 after purchasing an additional 76,541 shares during the last quarter. Corient Private Wealth LLC grew its holdings in shares of Lamar Advertising by 1,839.7% in the fourth quarter. Corient Private Wealth LLC now owns 230,189 shares of the real estate investment trust's stock worth $29,137,000 after purchasing an additional 218,322 shares during the last quarter. Finally, Jacobs Equity LLC purchased a new position in shares of Lamar Advertising in the fourth quarter worth $290,000. 93.78% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Ross Lamar Reilly sold 5,969 shares of the business's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $128.65, for a total transaction of $767,911.85. Following the transaction, the executive vice president owned 15,850 shares in the company, valued at $2,039,102.50. The trade was a 27.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 15.24% of the stock is owned by corporate insiders.

Lamar Advertising Stock Performance

Shares of LAMR stock opened at $149.65 on Friday. The stock has a fifty day moving average of $144.93 and a 200 day moving average of $135.45. Lamar Advertising Company has a 52 week low of $113.66 and a 52 week high of $158.69. The firm has a market capitalization of $15.18 billion, a price-to-earnings ratio of 27.61 and a beta of 1.20. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.33.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.18. The business had revenue of $528.00 million for the quarter, compared to analysts' expectations of $522.86 million. Lamar Advertising had a net margin of 24.01% and a return on equity of 55.53%. As a group, research analysts expect that Lamar Advertising Company will post 8.41 earnings per share for the current year.

Lamar Advertising Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.3%. Lamar Advertising's payout ratio is presently 118.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Lamar Advertising in a report on Friday, May 22nd. Wells Fargo & Company boosted their price objective on shares of Lamar Advertising from $136.00 to $150.00 and gave the company an "equal weight" rating in a research report on Friday, May 8th. TD Cowen upped their price objective on shares of Lamar Advertising from $150.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. Morgan Stanley set a $145.00 target price on shares of Lamar Advertising in a report on Thursday, May 7th. Finally, UBS Group set a $150.00 price target on Lamar Advertising in a report on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Lamar Advertising has a consensus rating of "Moderate Buy" and a consensus target price of $148.00.

Lamar Advertising Profile

Lamar Advertising Company NASDAQ: LAMR is one of North America's largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.

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